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Leads in marketing | What is a lead in business?

How Leads in marketing can help you boost converter

Leads in marketing. Recently we had a meeting with a client and I caught myself thinking that I often use the words “lead”, “lead generation”, “lead management”.

But the problem is not in these words, and that we did not understand each other.

I know that I need to speak the client’s language for successful communication. Only in this case, I decided otherwise and conducted a mini-excursion into the terminology. Because he, as the owner, it is definitely useful in the future.

So let’s understand what leads in marketing are?

THE THEORY WILL NOT PREVENT

The word “ lead “itself means — ” lead, lead, lead.” It has long been known in the field of advertising in Europe and the United States.

In simple words, the definition of the term ”lead “ is the specific actions of consumers, which are selected by the advertiser according to the necessary criteria.

To put it even easier, leads are those customers who, for example, call or write to Your company to use Your product.

This can be described by the phrase “potential customer “but, in practice, we all say” Lead”.

Leads · ‎Lead Qualification Status

Leads and sales

The word “Lead” is very firmly seated in marketing. But if you look at it more widely, it is also suitable for effective communication with sales managers. After all, in fact, leads are all your potential customers who interact with the company through:

Therefore, we can often hear from sales managers: “Today I have processed 50 leads and got 14 quality ones.” And we can also hear from marketers. Today we managed to generate 25 leads for $100 per application.

Speaking of the cost of the application, You know that the main thing is not conversion, but the cost of the application? No?!

In fact, everything is simple

As a rule, a lead in marketing has certain data. It can be minimal information about the client — phone number, e-mail and name. And can be a whole questionnaire of a dozen steps and several stages. It all depends on your sphere and task.

Leads in marketing capture form

And this form of obtaining leads is done in a few steps. First, under the guise of a survey and get a discount (the more answers, the more discount)

You are asked to take a survey and choose what items you need. After that, to fix the discount and send the full catalog, you are asked to enter the data.

And another example, but not from a series of sites where we get all the calls to the company by means of call tracking and synchronization of the site and social.networks with CRM-system.

In all examples, the meaning is the same-getting contact information about a potential customer. The only difference is the amount of data we get about them.

Important! The fewer fields, the higher the conversion. But just do not forget that not always high conversion — it’s good. Far more important the cost of the applications.

TYPES OF LEADS

And if we understood that lid, let’s take care of them.
What they are and how to deal with them?

Yes, I completely forgot, in this article I will not talk about how to attract leads (about lead generation). And for this let’s draw a line under this term.

So, leads are of the following types:

Cold. It is very, very unlikely that they will become your customers right now.

Consider these people as an investment in the future, because if they buy, it is not soon.

Warm. More conscious customers.

They know what they want and are at the stage of choosing a product or company. For their beliefs need to put a lot of effort, but the probability of winning is quite high.

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Hot. Oh! These are the most favorite customers of all salespeople, marketers and businessmen.

These are the people who want to buy “here and now”, it remains only to sell them correctly and not to spoil everything.

This separation of leads Will be useful not only from the theory, but also when choosing the right advertising channel.

After all, now you know that the first thing you need to focus on ways to advertise with hot potential applications. Read more here:

LEAD MANAGEMENT

Lead Generation: A Beginner’s Guide

In working with leads, we may encounter an interesting direction of lead management. At first glance, this is just a segmentation of leads, but in fact it is much more than you imagine. To do this, there is even a special position in the company” lead Manager”.

Lead-management — work on the conversion of each stage of the sales funnel before the first purchase of the client.

In business, all interaction with the client from his first contact to his last breath is called lead management. But basically contact with the client is divided into the first (before the first purchase) and the second part (after the first purchase).

In addition to the fact that the customer is engaged in the lead Manager, and after the purchase of the account Manager, they still do it in different programs. Before purchase-in the service “lead management”, and after purchase — in the CRM-system.

But if we take the usual retail or online store, we will see that there is no task in the management of leads. All this is relevant only in complex and long cycles of the transaction, where the client buys carefully and thoughtfully. This is usually the B2B (business to business) market.

Side view

If we take the whole lead management and look at it from the outside, we will see that this work is divided into four tasks, each of which clearly follows each other:

1. Lead-capturing / Lead-generation — formation of lead base with the help of marketing, advertising and PR.
2. Lead-Registration-confirmation of the fact that the lead is real with further registration of its input data in the system.
3. Lead Development / Lead nurturing — growing a lead before buying by working with it from the first to the last contact.
4. Lead conversion-the final part of the transaction, namely the transfer of the lead in the purchase, and the fulfillment of their obligations.

All these stages go through the transaction cycle. This cycle is called “lead-time “and” gap” (gap from contact to work performed).

By the way, this is a very important moment for business, to know how much time passes in a typical transaction from the first contact to receiving the final money. This will help you avoid the money gap.

In practice, all the work of the lead Manager is performed by the head of the sales Department. And its key competence is the qualification of leads and transfer them to the appropriate employees.

Those who are better at selling a particular product, or those who can work with more complex customers. In other words, it works with leads in an individual character.

All these actions lead Manager does on the basis of experience and information from the application forms or the first phone call.

More advanced companies automate this activity through lead-scoring. Its principle is based on the point system, where the hotter the lead, the higher the score. A point are issued based on the customer card in the system.

QUICK FACTS

That’s all she wrote. Greetings! Now you know what leads are in marketing, what they are and how to manage them. Now you are practically a professional Internet marketer and we can communicate in one language. This is nice.

But do not dwell on the terms, think about how it can help you in practice. And now you probably thought that in practice it is not applicable. And for good reason. Here are your thoughts (actions) that have helped our customers become better:

1. Order processing starts with hot leads;
2. Select the advertising channels via the “temperature” of Lida;
3. There is a responsible person for the distribution of applications;
4. The lid is given a different status;

We need to work on improving each stage that passes the lead. It is not necessary to implement everything at once, it is only food for the mind. A push aside is that even such theoretical knowledge can be useful in classic small business.

About Natalie Profit

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